The board of directors of Segetis, Inc has announced the appointment of James Stoppert as President and Chief Executive Officer of the company.
MINNEAPOLIS (Business Wire EON) September 3, 2008 -- Segetis is the first and only company to unlock the chemical "binary code" for developing a wide range of industrial chemicals and plastics that are ultimately derived from non-food agricultural and forestry sources. Backed by Khosla Ventures, Segetis is focused on developing a broad portfolio of bio-based materials made entirely or in a major part with use of proprietary renewable binary monomers.
Stoppert comes to Segetis from Cargill, where he led The Industrial BioProducts Business Unit focused on renewable routes to chemicals and plastics. Two of the opportunities developed, Elevance and BiOH, are now standalone businesses. Stoppert has more than 35 years of commercial experience in the chemicals industry. In 1997 he was appointed CEO of Cargill Dow LLC (now NatureWorks LLC), which led the green revolution in the chemical industry by producing plastics derived entirely from annually renewable resources like corn. Prior to Cargill Dow LLC, he held several positions with Dow Chemical, managing several major Dow Plastics businesses as well as major environmental issues for Dow's Global Plastics business.
"Jim brings a wealth of chemical industry experience to Segetis, he is also a pioneer in developing green chemicals from renewable resources," said Vinod Khosla, founder Khosla Ventures. "With Jim's addition Segetis has entered a new phase of growth that has a unique combination of powerful broad-impact technology and a strong management team."
"We have developed a broad platform of bio-based materials that enable the company to participate in numerous global applications and markets," said Sergey Selifonov, the inventor of the binary monomer technology, Segetis founder and Chief Scientific Officer. "Jim is a first class leader for helping us take the next step towards commercialization."
"The addition of Jim Stoppert as CEO signals that we are progressing from discovery to commercialization," added Olga Selifonova, co-founder of Segetis and Vice President of Corporate Development. "We are on the verge of producing breakthrough products that deliver the cost and performance required to compete with fossil-fuel–based materials."
Segetis is focused on commercializing a proprietary platform of binary monomers based on renewable feedstocks. As the first and only company to unlock the "binary code" of green chemistry, Segetis technology will deliver the cost and performance required to compete with fossil-fuel–based materials. Segetis strives to operate in a socially responsible manner as it pursues its mission of enabling industry to transform itself from dependence on fossil fuels to a more sustainable future. Segetis has been established in 2006 and began its accelerated growth in January of 2007 when the founders, Sergey Selifonov and Olga Selifonova, have secured Series A financing from Khosla Ventures.
For more information, please visit www.Segetis.com.
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